Listing Stringency Index

The Listing Stringency Index (LSI) is a novel, survey-based composite measure developed using data from the World Federation of Exchanges (WFE) member exchanges. 

The LSI quantifies and compares IPO listing requirements across nine regulatory dimensions, including financial thresholds, governance, disclosure, and operational compliance.

While the LSI allows for quantitative comparisons of IPO listing requirements across jurisdictions, it does not recommend any specific regulatory design or allows to infer which design could be optimal or superior.

LSI current values:

The LSI yields an index value ranging from 0 (no restrictions imposed in any category) to 100 (all restrictions applied).

As of March 2026, the average LSI score across all exchanges is 58.67, with scores ranging from 33.33 to 88.89.

Below are the latest average values by region and by market development across the nine listing dimensions:

The LSI scores change in time, as regulatory changes take place, more exchanges are included in the index, and the methodology is refined. You can find latest updates about the LSI and its methodology here.

Contact us for LSI scores: [email protected]